Munich Re pegs industry cat losses at $15bn in H1
Wednesday, 07 31 2019, Category: Nature, Country: World
Munich Re has estimated that insured losses resulting from natural catastrophes totalled $15 billion in the first half of 2019, slightly below the long-term average of $18 billion.
The reinsurer recorded 370 loss events over the first six months of the year, which it believes produced an overall economic loss of $42 billion, compared with the 30-year average of $69 billion.
Analysts noted that, at around 36%, the insured portion of the global economic loss was relatively small due to low insurance penetration in many of the affected countries.